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The effect of augmented virtuality on financial decision-making among adults and children

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Abstract

The current research examined whether users of an augmented virtuality (AV) system, in which real coins and a real coin machine are integrated within a virtual system, will be less inclined to spend money compared to users in a virtual system. Two studies using a virtual grocery store simulation were performed to answer this question. In the first study, 65 undergraduate students were randomly assigned to two between-participants groups: a virtual system group, in which the coins were virtual, and an AV system group. The results demonstrated that participants in the AV system group invested less money than participants in the virtual system group. In the second study, 51 children aged 5–10 years were randomly assigned to the two above-mentioned groups and assigned the same task. In contrast, the results from this study demonstrated that participants in the AV system group invested much more money than participants in the virtual system group, and their decisions were made more quickly. It is possible that the children enjoyed playing the game in the AV version and did not pay attention to the possible results. The effect of different virtuality levels on financial decision-making processes, however, should be further explored.

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Funding

This research was supported in part by the Council for Higher Education Foundation, Israel.

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Authors and Affiliations

  1. Department of Industrial Engineering and Management, ORT Braude College, Snunit 51, P.O. Box 78, 21982, Karmiel, Israel

    Nirit Yuviler-Gavish & Levona Admoni

  2. Department of Mechanical Engineering, ORT Braude College, Snunit 51, P.O. Box 78, 21982, Karmiel, Israel

    Eran Horesh

  3. Intactio Ltd., Eshchar, Israel

    Elias Shamilov

  4. The Unit for Pre-Academic Studies, Technion—Israel Institute of Technology, 3200003, Technion City, Haifa, Israel

    Hagit Krisher

Authors
  1. Nirit Yuviler-Gavish
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  2. Eran Horesh
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  3. Elias Shamilov
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  4. Hagit Krisher
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  5. Levona Admoni
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Correspondence to Nirit Yuviler-Gavish or Levona Admoni.

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The research involved human participants and was approved by the ORT Braude College’s ethical committee.

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Yuviler-Gavish, N., Horesh, E., Shamilov, E. et al. The effect of augmented virtuality on financial decision-making among adults and children. Virtual Reality 26, 1001–1008 (2022). https://doi.org/10.1007/s10055-021-00610-6

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  • DOI: https://doi.org/10.1007/s10055-021-00610-6

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